The proportion of homeowners who are underwater on their mortgages fell slightly in the second quarter to 30.9%, down from 31.4% in the first quarter, according to Zillow’s second quarter negative equity report.
The negative equity number may be showing slight improvement overall, but for some age groups the proportion is near half. Likewise, the percentage of borrowers who are underwater varies greatly among different states and regions.
Zillow includes an interactive map (click below) to indicate the proportion of underwater borrowers by county. While some states such as California, Florida and Arizona still have high percentages of borrowers who owe more on their loans than their homes are worth, certain other states have only 10% or fewer borrowers who are underwater on their loans.
Click the map to see how many borrowers are underwater in your area.
Written by Elizabeth Ecker